Is 11.00% a good personal loan rate? This question is about Personal Loans

Yes, 11.00% is a good personal loan rate for people with good credit. Applicants with a credit score of 660+ could qualify for a personal loan with a 11.00% APR if they choose the right lender and have enough income to afford the loan. Best Personal Loans with Rates as Low as 11.00% Company Minimum APR Loan Amounts Repayment Periods Marcus by Goldman Sachs 6.99% $3,500 - $40,000 36 - 72 months TD Bank 8.99% $2,000 - $50,000 12 - 60 months Discover 6.99% $2,500 - $40,000 36, 48, 60, 72 or 84 months LightStream 7.99% $5,000 - $100,000 24 - 84 months Upstart 5.35% $1,000 - $50,000 36 , 60 months Some lenders allow you to pre-qualify to estimate your approval odds and potential rates before you officially apply for a loan. To pre-qualify with multiple lenders at once, check out the free pre-qualification tool on WalletHub.

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Is 11.00% a good personal loan rate?

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This question is about Personal Loans

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Grace Enfield, Content Writer

@grace_enfield • 06/30/22 This answer was first published on 06/30/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes, 11.00% is a good personal loan rate for people with good credit. Applicants with a credit score of 660+ could qualify for a personal loan with a 11.00% APR if they choose the right lender and have enough income to afford the loan.

Best Personal Loans with Rates as Low as 11.00%

Company	Minimum APR	Loan Amounts	Repayment Periods
Marcus by Goldman Sachs	6.99%	$3,500 - $40,000	36 - 72 months
TD Bank	8.99%	$2,000 - $50,000	12 - 60 months
Discover	6.99%	$2,500 - $40,000	36, 48, 60, 72 or 84 months
LightStream	7.99%	$5,000 - $100,000	24 - 84 months
Upstart	5.35%	$1,000 - $50,000	36 , 60 months

Some lenders allow you to pre-qualify to estimate your approval odds and potential rates before you officially apply for a loan. To pre-qualify with multiple lenders at once, check out the free pre-qualification tool on WalletHub.

Answer Question

How do you lower the interest rate on a personal loan?

The best way to lower the interest rate on a personal loan is by refinancing the loan with another lender. When you refinance, you use a new loan or line of credit with a lower interest rate to pay off the old loan, so you owe the old balance to the new lender. And since interest won’t be accumulating as quickly, you should be able to pay off the new loan sooner, assuming your monthly...

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Which bank has the lowest interest rate on personal loans?

The major bank with the lowest interest rate for a personal loan is Barclays, at 4.99%. Other notable banks with low personal loan rates include PNC (5.99%) and American Express (6.98%), and some smaller banks across the country may also offer personal loans with similarly low rates.

Banks with the Lowest Interest Rates for Personal Loans

Barclays: 4.99%+ APR
PNC: 5.99%+ APR
American Express: 6.98%+ APR
Discover: 6.99%+ APR
Santander Bank:...

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What is the difference between APR and interest rate on a personal loan?

The difference between APR and interest rate on a personal loan is that the APR includes fees while the interest rate does not. Both the interest rate and the APR measure the cost of borrowing over a year's time, and both are expressed as a percentage rate. While these terms are fundamentally different, they are often used interchangeably and can be equal in cases where the loan has no fees.

One situation where the...

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